Ripped US Dollar bill

Why Owning a Home is Not Financial Suicide: A Deconstruction

Recently, we came across an article by one James Altucher, an investor and apparent hater of property ownership. In his article, James declares that owning a property is “financial suicide” and goes on to describe (at length) all the reasons why.

We have to say, we found his analysis of the topic somewhat comical. While he does have some valid points, his article lacks one major factor: balance. Of course property ownership has its pitfalls, but so does renting – and so does everything else in life. We hardly think ‘financial suicide’ is a sound conclusion to reach.

His article was heavily skewed towards America, and we didn’t want to make you sit through the whole thing, so we’ve pulled out some of the corkers from James’ writings and provided our comments. Enjoy! Continue reading

No Backyards for Kids: Why Blaming the Elderly Won’t Put a Roof Over Your Family’s Head

It’s a well-known fact that Australia currently finds itself in somewhat of a pickle when it comes to the whole housing situation, and older Australians have been taking some of the blame for depriving young families of houses – but why? Surely these folk, who have contributed to society, worked hard throughout their lives and managed to snag their slice of The Australian Dream, deserve the chance to grow old in peace?

Some groups don’t think so, with cries of ‘think of the children’ ringing out loud left, right and centre. But are older Australians really the cause of the issue, or does it run deeper? The simple answer is: yes, it does.

In our opinion, the major issue surrounding the undersupply of detached housing for families is the lack of suitable housing for the elderly. And this is all caused by ineffective economic and planning policies. Continue reading

roller-coaster

The Seven Stages of House Buying – Jac & Tom’s Journey

Every now and then, Perspective comes across a story that’s just crying out to be told, and today is one of those times.

The story of local home buyers Jac and Tom is one of ups, downs and ultimate triumph over the wily beast that is the Canberra property market in 2015. But before they could vanquish this worthy adversary, they had to undertake a journey of epic proportions.

This is the story of their home-buying odyssey, what they learnt along the way and their advice to those who may be about to enter the crazy world of agents, gavels and suburban streets. The journey was long, and at times hard, but worth it in the end. Continue reading

Colourful toy wooden blocks

Kids in Apartments: Yay or Nay?

It’s the question on many lips these days: can you raise kids in an apartment, or will you end up being strapped into a straitjacket and carted off in a white van within the first 5 seconds?

Apartment living is on the rise in Australia (pardon the pun), as the increasing cost of houses puts the strain on buyers. With the average price of a house in the ACT currently hovering at around $562,000 and the average unit price sitting at just $415,000 (according to Allhomes data), it’s easy to see which is the more cost effective option.

But for young families, is an apartment really enough? It sounds like a recipe for disaster, right? Perspective decided to talk to Jacqui and Alex, a couple of apartment-dwelling ACT parents, to get their take on what it’s really like, if it’s feasible and how to avoid dramas. Continue reading